a statement of transactions during a fiscal period and the resulting balance

account balance

the amout owed on a account

also called debit balance

accounts receivable ledger

a record of the charges and payments posted on an account

credit

an entry on an account constituting an addition to a revenue net worth or liability account the balance in a person's favor

credit cards

devices issued by a bank or other financial instiution retail sotres and businesses that allow the card holder to make purchases prior to paying for them the card holder is then billed after instest has been added

debit cards

cards that look like credit cards and by which money can be withdrawn bills paid or purchases made directly from the holder's bank account without the payment of interest

debit

an entry on an account representing an addition to an expense or asset account or a deduction from a revenue a net worth or a liability account

disbursements

funds paid out

fee profile

a compilation or average of physician fees over a given period

fee schedule

a compilation of pre-established fee allowances for given services or procedures

fiscal agen

an organization under the contract to the government to act as financial representatives in handling insruance claims from providers of healthcare also referred to as a fiscal intermediary

instigate

to goad or urge foward to provoke

medically indigent

able to take care of ordinary living expenses but unable to afford medical care

payable

balances due to a creditor on an account

pegboard system

an older method of tracking patient accounts also call the write-it-once system

posting

entering figures in an accounting system transferring or carrying from a book of original entry to a ledger

preponderance

a supeiority or excess in number or quantity a majority

professional courtesy

reduction or absence of fees to professional associates

receipts

amounts paid on patient accounts

receivables

total monies received on accounts

secured

a loan or line of credit that is backed by a pledge of payment and usually obtained using collateral

transaction

an exchange or transfer of goods services or funds

trustee

a person to whom propery is legally committed to be administered for the benefit of a beneficiary or held by an administrator to be distributed to multiple individuals or businesses

unsecured

a debt that is not protected by collateral

UCR

usual

customary

reasonable

usual

the physician's usual fee for a given service the fee most frequently charge for the service

cutomary

a range of the usual fees charged for the same service by physicians with similar traning and experience who practice in the sam geographic and socioeconomic area

reasonable

the fee for an exceptionally difficult or complicated service or procedure that requires extraordinary time or effort by the physician

fee for service

the physician must place an estimate on the value of services

physicians have three commodities to sell

time

judgment

services

one goal of managed care is

to prevent health problems before they start

explain fees such as

costs of operation

anesthesiologist charges

radiology charges

hospital bills

the ____ is responsible for the entire bill regardless of whether insurance pay on the bill or not

guarantor

prepare estimate slips in duplicate so that the patient can have a copy

help to avoid forgetting that a fee was quoted

may help to avoid later misquoting of the fee

help to simplify collections by prevnting misunderstanding about charges

the slips attached to charts while a patient is in the office are called

encounter forms

also called superbill , charge slips and multipurpose billing forms

the best way to collect payment

at the time of service

insurance allowance

the amount of the reimbursement that the insruance company allows to be paid for a certain treatment or procedure

debit column

located on the left charge column

credit column

located to the right of the debit column paid or payments used for entering payments received on an account